Citigroup Boosts Eagle Materials (NYSE:EXP) Price Target to $311.00

Eagle Materials (NYSE:EXP) had its price objective raised by equities researchers at Citigroup from $252.00 to $311.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 19.49% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Loop Capital decreased their price objective on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Stifel Nicolaus decreased their price objective on shares of Eagle Materials from $300.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. The Goldman Sachs Group increased their price objective on shares of Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group increased their price objective on shares of Eagle Materials from $270.00 to $283.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $287.56.

Eagle Materials Price Performance

Shares of EXP traded down $12.03 during trading hours on Thursday, hitting $260.27. The stock had a trading volume of 149,649 shares, compared to its average volume of 319,959. The company’s fifty day moving average is $228.47 and its two-hundred day moving average is $241.43. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.06. Eagle Materials has a 52 week low of $145.03 and a 52 week high of $279.69. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 19.16 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.37. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The business had revenue of $608.69 million for the quarter, compared to analyst estimates of $622.06 million. During the same quarter in the prior year, the firm earned $3.55 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Eagle Materials will post 15.58 EPS for the current year.

Hedge Funds Weigh In On Eagle Materials

Several hedge funds have recently made changes to their positions in EXP. Eagle Bay Advisors LLC lifted its holdings in Eagle Materials by 79.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after purchasing an additional 42 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Eagle Materials during the 1st quarter valued at $27,000. Tompkins Financial Corp acquired a new stake in Eagle Materials during the 1st quarter valued at $27,000. Rise Advisors LLC acquired a new stake in Eagle Materials during the 1st quarter valued at $27,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new stake in Eagle Materials during the 4th quarter valued at $30,000. 96.07% of the stock is owned by institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.